Bostik Acquires XL Brands in Flooring Adhesives in the United States
PARIS, November 6, 2017 /PRNewswire/ --
- Proposed acquisition of the assets of XL Brands, a leader in floor covering adhesives in the United States, that will allow Bostik to offer comprehensive solutions in this growing high added value market
- Offer based on a US$205 million enterprise value, i.e. 11 times current EBITDA (7 times within 4 to 5 years and including synergies)
XL Brands is a leader in adhesives for resilient and soft flooring in the United States. With a highly competitive and brand new production facility in Dalton (Georgia), XL Brands offers innovative and environmentally friendly solutions that are fully complementary to Bostik's product range in the United States (hardwood flooring adhesives, floor preparations, sealants, etc.).
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This bolt-on acquisition, which complements the acquisition of CMP last May, will help Bostik become one of the leaders in floor covering adhesives in the United States. This proposed acquisition is expected to close end 2017 and is subject to regulatory approval by antitrust authorities.
With this transaction, Arkema actively pursues its development strategy in adhesives, which should exceed one third of the Group's sales by 2023.
About Bostik, an Arkema company
Bostik is a leading global adhesive specialist in construction, consumer and industrial markets. For more than a century, it has been developing innovative adhesive solutions that are smarter and more adaptive to the forces that shape daily lives. From cradle to grave, from home to office, Bostik's smart adhesives can be found everywhere. With annual sales of €1.95 billion, the company employs 6,000 people and has a presence in more than 50 countries. For the latest information, visit http://www.bostik.com .
About Arkema
A designer of materials and innovative solutions, Arkema shapes materials and creates new uses that accelerate customer performance. Our balanced business portfolio spans high-performance materials, industrial specialties and coating solutions. Our globally recognized brands are ranked among the leaders in the markets we serve. Reporting annual sales of €7.5 billion in 2016, we employ approximately 20,000 people worldwide and operate in close to 50 countries. We are committed to active engagement with all our stakeholders. Our research centers in North America, France and Asia concentrate on advances in bio-based products, new energies, water management, electronic solutions, lightweight materials and design, home efficiency and insulation. http://www.arkema.com
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